TOLEDO, Ohio, Oct. 1 /PRNewswire-FirstCall/ -- N-Viro International Corporation (OTC Bulletin Board: NVIC) ("N-Viro"), an environmental technology company that markets an alternative fuel manufacturing process and agricultural products, is pleased to issue this update regarding its equity financing and development agreements with VC Energy I, LLC of Las Vegas, NV ("VC Energy").
As reported in the Company's Form 8-K filed September 27, 2010, N-Viro and VC Energy amended their June 29, 2010 Purchase Agreement. Because the Company does not require all the money upfront, VC Energy agreed to provide the capital on an as-needed basis and on the same terms and conditions as previously agreed to. This allows N-Viro to draw on the capital when needed, while allowing the investment group to initiate their joint development agreement and provide the capital required to build the first N-Viro Fuel facility.
Timothy Kasmoch, N-Viro's CEO and President, commented, "With the expansion of the company and the future growth we believe is approaching, it will be a great experience having our next facility financed by the same partner providing the capital for the construction of our portable facility. With the financing of our portable facility and our next facility in the development stage, after a long period of development I am looking forward to a bright future for N-Viro shareholders."
About N-Viro International (www.nviro.com)
N-Viro International is an environmental and materials operating company that owns patented technologies to convert various types of waste into beneficial alternative fuel products, including the renewable biofuel N-Viro Fuel™ and N-Viro Soil™. Its renewable biofuel technology, N-Viro Fuel™, has received alternative energy status from the U.S. Environmental Protection Agency, which qualifies the technology for renewable energy incentives. N-Viro International operates processing facilities independently as well as in partnership with municipalities.
N-Viro maintains a web site at www.nviro.com, where interested parties can follow the progress of the Company. N-Viro will continue to routinely post press releases on the site and encourages stockholders and interested parties to monitor the site on a regular basis.
Special Cautionary Note Regarding Forward-Looking Statements
The Company cautions that words used in this document such as "expects," "hopes", "anticipates," "believes" and "may," as well as similar words and expressions used herein, identify and refer to statements describing events that may or may not occur in the future. These forward-looking statements and the matters to which they refer are subject to considerable uncertainty that may cause actual results to differ materially from those described herein. For example, while the Company expects business expansion projects to begin in an estimated time frame, such expectations are subject to adverse economic conditions and other factors outside of the Company's control. Further, the Company's ability to increase capabilities and expand capacity is subject to the ability of the Company or its partners to access sufficient capital to pay for this expansion, which will further depend on, among other factors, market acceptance. The Company's ability to achieve profitability of these projects could be negatively impacted if there is a lack of an adequate supply of waste or expenses increase above the Company's expectations - including fuel and transportation costs, labor costs and costs relating to the treatment and processing of the biosolids and creation of the N-Viro Soil or N-Viro Fuel. In addition, while the Company believes that trends in "greener" energy solutions are moving in favor of the Company's technology, such trends may not continue or may never result in increased sales or profits to the Company because of the availability of competing products and other alternative energy source. All of these factors, and other factors, will affect the profitability of the Company. Additional information about these and other factors that may adversely affect these forward-looking statements are contained in the Company's reports, including its Annual Report on Form 10-K for the year ended December 31, 2009 and other filings with the Securities and Exchange Commission. The Company assumes no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws.
For More Information Contact:
Timothy Kasmoch, CEO
firstname.lastname@example.org (419) 535-6374
SOURCE N-Viro International Corporation